The Central Bank of the UAE (CBUAE) has taken action against an insurance company that failed to comply with its regulatory obligations.
The authority revoked the licence of Al Khazna Insurance Company after follow-up inspections revealed the firm failed to meet the licencing requirements necessary to conduct business during the suspension period.
The CBUAE works to ensure that all insurance companies and professionals abide by the laws, regulations and standards in order to safeguard the transparency and integrity of the insurance industry and the UAE’s financial system.
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